Global Cargo Company 'UPS' To Employ Blockchain To Its Existing Shipping System.

Global Cargo Company 'UPS' To Employ Blockchain To Its Existing Shipping System.

2018-08-20 | Selina Mathew

Global Cargo Company 'UPS' To Employ Blockchain To Its Existing Shipping System.

A famous shipping company UPS has recently filed for a patent that would employ blockchain technology as a part of new distributed system for dispatching its packages globally.

The patent application by the U.S. Patent and Trademark Office (USPTO) revealed the company's interest in the blockchain technology to transfer its shipment movements round the globe.

The patent was Entitled "Autonomous services selection system and distributed transportation database(s)," the idea involves storing various sorts of knowledge at intervals in a distributed ledger network, for package's delivery and transportation plans for its cargo units.

The shipping company UPS joined a blockchain based transportation-focused conference last year, after which it hinted at the concept of acceptive bitcoin through a planned system of item-exchange lockers.

Notably, UPS suggests employing many distributed ledgers in an attempt to trace a spread of cargo orders, each providing variable information/data related to individual choices.

The firm further stated that the company would cross-check other ways to modify its existing method of shipment movements around the globe. UPS shipped more than five billion packages and documents last year, earning more than $50 Bln in revenue.

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